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$ 1,400,000
Est. payment /mo
Active
2344 N Niagra Burbank, CA 91504
7 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25162367
Bedrooms 7
Property Sub-Type Res Income 2-4 Units
Property Description
Prime Burbank Multifamily with Income, ADU Potential & Development Upside! 2344 Niagara Street is a fully occupied four-unit multifamily property located in the highly desirable city of Burbank, California. The property includes two separate structures: a two-story duplex (2814 Thornton) built in 1902 and a single-story rear duplex (2344-46 Niagara). Combined, they total 3,781 square feet on an oversized 8,751 square foot BUR4-zoned lot. While the buildings are largely unrenovatedaside from a recently installed new roofthey generate immediate in-place income and offer significant value-add potential through both interior improvements and future development. The offering is $200 per SF below the average comparable. The unit mix is predominantly two-bedroom apartments, with one one-bedroom unit, providing a strong base for market-rate repositioning. Current annual income is approximately 40% below market levels. With modest renovations completed during natural tenant turnover, projected gross income could surpass typical returns for multifamily investments in Burbank. While cosmetic and interior upgrades are needed, the property offers an immediate operational baseline with considerable upside for investors focused on long-term appreciation and rent growth. Located just 0.5 miles from the I-5 Freeway and less than a half-mile from Hollywood Burbank Airport, the property offers excellent regional connectivity and is in close proximity to major employment centers including Warner Bros., Disney, and NBCUniversal. Tenants benefit from access to the highly rated Burbank Unified Sc
Location
State CA
County Los Angeles
Zoning Public Rec
Direction Corner of Thornton & North Niagra
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 2464008036
Listed by Justin White Justin White